ThursdayHeadlines 12th of March 2020 1. AlikoDangote loses N240b in five hours to coronavirus - 2. MBuhari: I have no hand in Sanusi’s dethronment - 3. Southsouth APC leaders snub Obaseki - LIVATL
A pandemic is a disease that is spreading in multiple countries around the world at the same time.Investors have suffered a total of N1.41 trillion loss in the last three days to the pandemic which is wreaking havoc across the world.
Two other members of the Dangote Group, Dangote Sugar Refinery Plc and NASCON Allied Industries Plc lost N1.8 billion and N3.05 billion. Dangote Cement’s share price dropped by N17 from N170 to close at N153. NASCON Allied Industries declined by N1.15 to close at N3.05 while DSR lost 15 kobo to close at N9.75 per share.Allaying public fears about development in the market, the Association of Securities Dealing Houses of Nigeria assured investors that the market would soon bounce back.
“Investors should not panic. The share prices will bounce back. The companies’ fundamentals remain strong. Many investors are taking advantage of the bearish run to beef up their portfolios.” Italy is the worst hit country in Europe with 827 deaths. Over 16 million people have been quarantined there.In Nigeria, two persons, including an Italian, who is the index case, are in quarantine in Lagos. Six others comprising four children, their teacher and another person are in isolation, according to Commissioner for Health Prof. Akin Abayomi.
All sectoral indices closed negative with the exception of the NSE Insurance Index, which appreciated by 2.2 per cent. The NSE Consumer Goods Index declined by 4.7 per cent. The NSE Industrial Goods Index depreciated by 3.4 per cent. The NSE Banking Index dropped by 2.7 per cent while the NSE Oil and Gas Index dipped by 0.7 per cent.
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